The Nigerian Equities Market extends its positive tempo to close the midweek trading session. The benchmark NGXASI inched up further by 78bps to close at 71,808.64 points from 71,250.17 points in the previous session.
The day’s positive performance was primarily driven by buying activities in high capitalized stocks such as UBA (3.29%), MTN Nigeria (0.25%), Guaranty Trust HoldingCompany (0.51%), First Bank Nigeria Holdings (9.91%), Zenith Bank (3.44%), Access Corporation (9.04%) and 29 other stocks which kept the All-Share-Index in the North.
Consequently, the year-to-date returns surged to 40.11%, while the overall market capitalization increased by 78 basis points as investors fortune grew by N305.61 billion.
Market activity for the day was positive as value and volume traded increased by 8.88% and 59.15% to reach N12.10 trillion and 690.01 million units, respectively.
We expect the equities market to sustain the positive trend in coming session amid improved investors sentiment.
CURRENCY MARKET:
The Nigerian Naira depreciated by 17.91% against the US Dollar in the NAFEM Window, closing at a rate of N951.22/USD.
